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On Friday, March 26, 2021, the IRS released Announcement 2021-7 , which states that amounts paid for personal protective equipment (PPE) used for the primary purpose of preventing the spread of COVID-19 now qualify for medical care under § 213(d) ...
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The American Rescue Plan Act of 2021 (“American Rescue Plan” or “ARPA”) was approved by the House and Senate, and President Biden signed this bill into law on Thursday, March 11, 2021. The American Rescue Plan is the latest COVID-19 relief bill and ...
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Every Plan Sponsor of a retirement benefit plan is generally required to file an annual Form 5500 with the U.S. Department of Labor (the “DOL”). The annual report collects basic information about the plan and the sponsor, including the plan’s financ...
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When an online transaction is requested on a participant's account, whether via the participant website, plan sponsor website, or through our Service Center, often you will see it in "pending" status for a period of time. This status will update to ...
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If you would like to make any plan changes in relation to the Consolidated Appropriations Act, please click here to notify Sentinel of your elections. Once your submission is received and the details are confirmed, Sentinel will make the appropr...
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On Monday, December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021 . Included in the volume of text were several items related to Flexible Spending Account (FSA) relief. Here is an overview of the key FSA provisions: Full FSA...
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SampleBoardResolution.pdf ...
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Employers who sponsor qualified retirement plans and record-keepers like Sentinel, may need to locate missing or unresponsive participants (or beneficiaries) who are due a benefit under the plan. The DOL and IRS have identified guidance to help. Add...
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Summary of Electronic Delivery Regulations : On May 21, 2020, the Department of Labor (DOL) issued a final regulation allowing employers to delivery certain ERISA required documents and disclosures electronically. The new rule allows for default...
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On Tuesday, May 12, 2020, the IRS issued Notice 2020-29 and Notice 2020-33 . These Notices included major changes to Section 125 and FSA benefits that may be financially beneficial to plan participants. Some provisions, however, require adoption...